📢 FBR Fixes Minimum Sugar Price for Tax Collection
Islamabad – The Federal Board of Revenue (FBR) has issued a notification setting a minimum price for locally produced sugar to ensure proper sales tax collection.
According to the official document:
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The price will be reviewed every 15 days.
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It will be based on the sugar rate published on the Pakistan Bureau of Statistics (PBS) website.
📉 How the Price Will Be Determined
The new system sets the Ex-mill price for tax purposes by subtracting Rs. 16 per kilogram from the PBS-reported retail price.
📌 Example: If PBS reports Rs. 130/kg, the Ex-mill price for tax would be Rs. 114/kg.
This revised price will be used to calculate the sales tax on sugar production and supply.
🔍 Why It Matters
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Prevents under-invoicing and tax evasion in the sugar sector
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Ensures a standardized tax base for all producers
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Helps the FBR improve tax compliance and revenue collection
🏛️ Government Oversight
A government committee has also been formed to regularly monitor sugar prices and suggest updates to maintain fairness in the system.